Cullumber Enterprises earns 11% on an investment that pays back $92,000 at the end of each of the next 8 years. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Cullumber Enterprises invested to earn the 11% rate of return? (Round answer to 2 decimal places, e.g. 25.25.)

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